All Forum Posts by: Eric C.

Has anyone here used any asset based lending where you pay 25-30% down and they don't look at income or DTI? Rates are a little higher than conventional (6.6%) but they don't report to the credit bureaus. I am considering that as an option (great credit but terrible Tax returns).

Tomer,  Will you be around the Red in July?  Doing 1040 taxes is pretty easy if you use a filing software like turbotax or taxact.  

If I wait until I file my 2017 returns, I will show 95k or more for 2017, and 35k for 2016 so that would qualify for a lot more.

A little about me, I am looking for buy and hold investing, prefer turn key rentals, and have owned multiple properties over the years, but only primary residences. I own my current house outright (140k), and have decent cash to invest (70k and growing monthly), but here is the dilemma.....I am 1099 self employed. I have 800 credit score, and have been an independent contractor since May 2015. My 2015 tax returns show 21k and 2016 show 35k, but my income is growing rapidly with my current venture, and am now making about 8k monthly after expenses, and have zero debt.

I tried to get a HELOC but my 2015 tax returns killed that. Should I look for alternative lenders, or just wait until I file my taxes in February and show 90k or more in income so I can get more affordable lending terms?

A little about me, I am looking for buy and hold investing, prefer turn key rentals, and have owned multiple properties over the years, but only primary residences.  I own my current house outright (140k), and have decent cash to invest (70k and growing monthly), but here is the dilemma.....I am 1099 self employed.  I have 800 credit score, and have been an independent contractor since May 2015.  My 2015 tax returns show 21k and 2016 show 35k, but my income is growing rapidly with my current venture, and am now making about 8k monthly after expenses, and have zero debt.  

I tried to get a HELOC but my 2015 tax returns killed that. Should I look for alternative lenders, or just wait until I file my taxes in February and show 90k or more in income so I can get more affordable lending terms?

I lived in a campervan for 1.5 yrs and rented out my condo at the time for a small fortune.  I will be moving back into my van next month for an extended spell.  It can be done.

I have rental income on my 2014 and 2015 tax returns, but not 2016.  I will have rental income in 2017 as well.  Would I need to wait until after 2018 to have 2 yrs continuous rental income experience or would previous years count?